India’s startup ecosystem is witnessing one of its biggest leadership churns in recent years, with senior executives from major venture capital (VC) firms stepping down in what industry watchers are calling a “VC Leadership Shake-Up of 2025.” A new report by Inc42 highlights nine high-profile departures across top investment firms including Peak XV Partners, General Catalyst, Kalaari Capital, Elevation Capital, Apax Partners, and Mirae Asset Venture Investments.
A Year of Big Exits in Venture Capital
The exits span across partner-level, managing director-level and C-suite positions—roles critical to investment decisions, fund strategy and startup mentorship.
Among the major names is Priya Mohan, Partner at General Catalyst, known for backing early-stage Indian startups. From Kalaari Capital, seasoned venture partner Priyanka Gill also stepped away, marking another big move in the VC landscape.
At Peak XV Partners—formerly Sequoia India—the churn is even more visible. Three senior leaders exited:
Shreayansh Thakur, Investor
Shailesh Lakhani, Managing Director
Abheek Anand, Managing Director
Harshjit Sethi, Managing Director
These exits come at a time when Peak XV is aggressively expanding its Southeast Asia footprint, raising questions about internal shifts in strategy.
From Elevation Capital, long-serving Partner & COO Vivek Mathur moved on, while Mirae Asset Venture Investments witnessed the departure of CEO Ashish Dave, known for his active role in India’s fintech and consumer-tech investments.
Apax Partners also saw a key exit with Anurag Sud, Managing Director & India Head, stepping down—signalling a possible recalibration of the firm’s India strategy.
Why These Exits Matter
This wave of transitions comes at a critical time when Indian startups are recovering from a funding winter. Senior VC leaders often shape investment pipelines, mentor founders, and guide long-term capital deployment. Their exits indicate:
●Strategic restructuring inside top VC firms
●Global portfolio realignments
●Shifts in investment focus post-2024 slowdown
●Rising competition from global and Middle Eastern funds entering India
For startups, it could mean new styles of decision-making, fresh investment theses—and longer wait times for funding closures.
India’s VC sector is clearly entering a new phase, with 2025 shaping up to be a defining year for both investors and entrepreneurs.
